Public Debt about to hit 10 Trillion $$$
Each American owes $30,000 if you divide up the public debt. The new baby you just welcomed into the world? well, he owes $30K already! So this post from CalculatedRisk made me look up the actual numbers.รย Then I discovered that the Treasury Dept has been publishing the total public debt number daily since Jan 1993.รย Here is the quick comparison I made using ManyEyes.
If you want to get the whole data set and the rise of this humongous number, see the daily figures here as data set and line graph.
I understand this bailout should happen or must happen or whatever but really can we start freaking taxing the rich?
One other note, I don’t know how Americans see debt. I hate debt, in any shape or form. I know it’s a bit extreme and may be slightly irrational.รย People claim there is good debt such as mortgage. Even so, I still hate debt. So guess how much of the national budget is used to pay the interest for this public debt of 10 Trillion?
Here is your answer : 16.194%, which is equivalent to 8 times what the government spends on education (~2%). So last year, $4858 of my fed tax payment went to China as interest. excellent right?
Thank you George W Bush, I am waiting for Jan 20th 2009. And it better not be ‘that old dude’ who wants to keep Bush tax cuts and make them permanent giving the inaugural address.
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